California State Teachers Retirement System increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 73,780.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,246,575 shares of the company's stock after purchasing an additional 141,055,392 shares during the period. California State Teachers Retirement System owned 121.15% of McKesson worth $106,725,912,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Secure Asset Management LLC grew its stake in McKesson by 484.8% during the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company's stock valued at $1,604,000 after acquiring an additional 1,760 shares in the last quarter. Summit Global Investments acquired a new position in shares of McKesson during the 2nd quarter worth approximately $1,159,000. Walter Public Investments Inc. purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $6,538,000. One Wealth Advisors LLC purchased a new position in McKesson during the second quarter worth approximately $1,494,000. Finally, Royal London Asset Management Ltd. boosted its stake in McKesson by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company's stock worth $84,809,000 after buying an additional 1,216 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MCK has been the topic of several recent research reports. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Evercore reiterated an "outperform" rating on shares of McKesson in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $973.44.
Read Our Latest Stock Report on MCK
McKesson Trading Down 0.1%
Shares of NYSE:MCK opened at $907.35 on Monday. McKesson Corporation has a twelve month low of $682.35 and a twelve month high of $999.00. The company has a market capitalization of $105.79 billion, a PE ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.30. The firm has a 50 day simple moving average of $848.13 and a 200-day simple moving average of $842.45.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.
McKesson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's payout ratio is presently 10.06%.
Insider Buying and Selling
In other news, Director Bradley Lerman sold 301 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Tyler sold 8,463 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,156 shares of company stock valued at $17,305,242 over the last ninety days. 0.06% of the stock is owned by insiders.
About McKesson
(
Free Report)
McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
See Also
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